Government Challenges Board Members

The Minister for Finance and Economic Planning, Dr Kwabena Duffour, on behalf of the President, has inaugurated the Board of Directors of the Ghana Reinsurance Company Limited (GRC), National Identification Authority (NIA), Public Utilities Regulatory Commission (PURC) and the Ghana Statistical Service (GSS) in Accra yesterday.

Inaugurating the board members of the GRC, the Minister stated that the GRC is the dominant reinsurance company in Ghana and it has a market share of about 90% of the domestic market.

He added that the company has been assigned financial strength rating of B and an issuer credit rating of BB plus, by an international rating company.

The Minister, however, advised the new Board of Directors not only to maintain the status quo but to improve the fortunes of the company.

He told them that their major challenge will be how to manage the direct insurance companies in this new and completely changing environment.

Dr Kwabena Duffour, inaugurating the board members of the NIA, stated that the establishment of the National Identification System is part of Government’s response to national concerns about pervasive identity fraud, duplication of identity documents among others.

He stated that the NIA was set up to meet very important needs and its mandate is to register all Ghanaians at home and abroad as well as foreign nationals permanently resident in Ghana.

He said the need for a National Identification System has been recognised since 1972 and its establishment in 2003 enjoyed multi party support.

Speaking at the inauguration of the PURC board members of the Public Utilities Regulatory Commission, the Hon Minister said electricity is an important prerequisite for the development of a nation with great potential for the accelerating socio economic development and improving the standards of living.

On inaugurating the board members of the GSS Dr Kwabena Duffour stated that he recognises an efficient statistical service is required to increase transparency of government, to inform policy making and monitor results.

The Minister said a series of reforms will be required to streamline and modernise the GSS and the wider statistical system, and that a strong functioning board is one of the first steps towards a successful reform of the GSS.

He reiterated the government’s commitment to fund the cost of the 2010 population and housing census.

Speaking on behalf members of the GRC board, Mr Lionel Mobilla, the chairman, stated that they are aware of the threats the company faces since the repeal of the legal section which contributed to the company’s income. He added that they will communicate with the Minister when it settles down on ways to direct affairs of the company.

The chairman of the NIA board, Mr Larry Adjetey, expressed gratitude to the President and assured the Minister that they will pursue the task ahead of them to ensure improved efficiency in business transactions.

The chairman of the PURC board, Dr Emmanuel Annang, stated that they are going to dissect the Minister’s statement fully since the utility services in Ghana are not the best.

Prof Francis Duodo, the chairman of the GSS board, said they welcome the opportunity to serve in a fair and transparent manner.

Source: ISD (Delight Biney & Sethline Frempong)